sebi:WTM/SR/EFD/17/03/2016
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Facts / Headnote
Entities prohibited from accessing the securities market and from buying, selling or dealing in securities directly or indirectly or being associated with the securities market in any manner for a period of ten years
Provisions invoked
- s. 19
- s. 11(1)
- s. 12(1)
- s. 11B
- s. 11
Regulations
- Reg. 7
- Reg. 11
- Reg. 3
- Reg. 6
- Reg. 9(f)
- Reg. 4(1)
- Reg. 21
- Reg. 3(a)
- Reg. 9
- Reg. 9(e)
- Reg. 9(b)
- Reg. 20A
- Reg. 20(2)(b)
- Reg. 18A(2)
- Reg. 58(B)(2)
- Reg. 43
Holding
Unickon Securities, its directors Shri Gajendra Nagpal and Shri Ram Mohan Gupta, its ex-compliance officer, Unickon Fincap, I360 STS and its directors and recipient group entities misutilised and diverted clients' funds and securities and dealt in securities in a fraudulent and unfair manner, and were therefore debarred from the securities market for ten years.
Full text
Page 2 of 69 Certificate of Registration to Unickon Securities, as a Depository Participant in accordance with the SEBI (Depositories and Participants) Regulations, 1996 (“Depositories and Participants Regulations”).
Page 3 of 69 e. Clauses A(3) and A(5) of the Code of Conduct for Stock Brokers specified in Schedule II under Regulation 7 of the Stock Brokers Regulations.
Page 4 of 69 AADPN5511A) and Mr. Ram Mohan Gupta (PAN: AGDPG7175M) vide Ex-Parte Ad Interim Order dated May 26, 2014. 10. It has also been brought to my notice that Unickon Securities had neither cooperated in the proceedings before the Investor Grievance Redressal Panel (IGRP)/Investor Grievance Redressal Committee (IGRC) of the stock exchanges for redressal of the investor complaints/grievances nor paid the claims decided in favour of the clients at IGRP/IGRC which were held for resolution of the investor complaints. Pursuant to this, the stock exchanges, viz. NSE and BSE initiated disciplinary proceedings against Unickon Securities under their respective bye-laws. While NSE expelled Unickon Securities with effect from September 05, 2014, BSE expelled it and also declared it as a defaulter with effect from September 10, 2014. These stock exchanges also issued public notices inviting the claims of the investors within specified days (NSE: 90 days and BSE: 120 days from the dates of the respective notices issued by them).
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Source: SecMarx — sebi:WTM/SR/EFD/17/03/2016. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.